News Release Disclaimer
Ontex Resources 1999 Third Quarter Interim Financial Statements
Monday, November 29, 1999, 7:32 PM EST
Toronto, Ontario
Listing: Canadian Venture Exchange, Symbol "ONT"
Issued Capital: 39,036,506 Common Shares
Ontex Resources Limited is pleased to present its third quarter
unaudited, interim financial statements for the 9 months ended
September 30, 1999.
ONTEX RESOURCES LIMITED
[Signed]
Robin E. Goad
President
Further information can be obtained from Ontex Resources Limited
in London (contact Robin Goad at: Tel. (519) 858-8188 or Gary
Conn at Tel. (519) 455-8127); and in Toronto (contact Sam Fuda at
Tel. (416) 360-4031; by Email at: info@ontexresources.com, or
visit our Website at: www.ontexresources.com.
Neither the Canadian Venture Exchange nor any securities
Regulatory Authority has approved or disapproved of the contents
of this news release.
ONTEX RESOURCES LIMITED
CONSOLIDATED STATEMENT OF LOSS AND DEFICIT
For the 9 For the 9
Month Period Month
Ended Period
September 30, Ended
1999 September
30, 1998
[Unaudited] [Unaudited]
---------------------------------------------------------------
Beardmore Option Payment - 5,000
Interest Revenue $ 154,967 $ 3,637
---------------------------------------------------------------
154,967 8,637
Administrative & General Expenses 601,059 236,877
Operating Income (Loss) for the Period (446,092) (228,240)
--------------------------------------------------------------
Gain on Issue of Shares in Subsidiary 423,257 -
Income (Loss) for the Period (22,835) (228,240)
Minority Interest 55,846 -
Net Income (Loss) for the Period $ 33,011 $ (228,240)
Deficit, at the Beginning of the
Period (5,411,867) (4,990,026)
----------------------------------------------------------------
Deficit, at the End of the Period $ (5,378,856) $ (5,218,266)
----------------------------------------------------------------
Net Income (Loss) per Common Share $ - $ (0.01)
----------------------------------------------------------------
ONTEX RESOURCES LIMITED
CONSOLIDATED STATEMENT OF LOSS AND DEFICIT
ONTEX RESOURCES LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN CASH POSITION
For the 9 For the
Month Period 9 Month
Ended Period
September 30, Ended
1999 September
30, 1998
[Unaudited] [Unaudited]
-----------------------------------------------------------------
Cash Resources Provided by (Used in):
Operating Activities
Net Income (Loss) (22,835) $ (228,240)
Depreciation 6,667 -
Gain on Issue of Shares in Subsidiary (423,257)
Change in Non-Cash Working Capital
Balances (73,263) (28,780)
----------------------------------------------------------------
(512,688) (257,020)
----------------------------------------------------------------
Investing Activities
Capital Assets (11,468) -
Acquisition of Mining Properties (30,000) -
Exploration Expenditures (1,006,522) (14,441)
----------------------------------------------------------------
(1,047,990) (14,441)
----------------------------------------------------------------
Financing Activities
Issue of Shares 1,787,500 -
Issue of Shares in Subsidiary 1,155,700 -
Share Issue Costs (79,740) -
Deferred Financing Costs (1,120) -
----------------------------------------------------------------
2,862,340 -
----------------------------------------------------------------
Increase (Decrease) in Cash for the
Period 1,301,662 (271,461)
Cash, at the Beginning of the Period 3,346,847 447,381
----------------------------------------------------------------
Cash, at the End of the Period 4,648,509 $ 175,920
-----------------------------------------------------------------
ONTEX RESOURCES LIMITED
596 Hamilton Road, London, Ontario N5Z-1S6
Tel. (519) 455-8127 * Fax. (519) 519-455-1846
150 York Street, Suite 1206, Toronto, Ontario M5H-3S5
Tel. (416) 360-4031 * Fax. (416) 360-4034
ONTEX RESOURCES LIMITED
(Mining)
ontexresources.com
: ONT
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© 1999 BCE Emergis
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